Menu

samantha

About samantha

Posts by :

Highlights From the Real Estate Board November 2023

“We’ve been watching the number of active listings in our market increase over the past few months, which is giving buyers more to choose from than they’ve been used to seeing over the past few years. When paired with the seasonal slowdown in sales we typically see this time of year, this increase in supply is creating balanced conditions across Metro Vancouver’s housing market.”

“Balanced market conditions typically come with flatter price trends, and that’s what we’ve seen in the market since the summer months. These trends follow a period where prices rose over seven per cent earlier in the year,” Lis said.

“You probably won’t find Cyber Monday discounts, but prices have edged lower by a few per cent since the summer. And with most economists expecting mortgage rates to fall modestly in 2024, market conditions for buyers are arguably the most favorable we’ve seen in some time in our market.”

Sales of detached homes in November 2023 reached 523, a seven per cent increase from the 489 detached sales recorded in November 2022. The benchmark price for a detached home is $1,982,600. This represents a 6.8 per cent increase from November 2022 and a 0.9 per cent decrease compared to October 2023.

Sales of apartment homes reached 850 in November 2023, a 0.4 per cent increase compared to the 847 sales in November 2022. The benchmark price of an apartment home is $762,700. This represents a 6.2 per cent increase from November 2022 and a one per cent decrease compared to October 2023.

“NOTE: this representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assume no responsibility for its accuracy.”

Download The Real Estate Board of Greater Vancouver’s November statistics Package. Click Here

Download Fraser Valley’s Real Estate Board’s November Statistics Package. Click Here

Food for Thought on Real Estate – November

  • Seller’s market – A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher
  • Buyer’s market – In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to-active listings ratio below 12%.e
  • Balanced market – A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.Summary Over a sustained period of time:
    • a seller’s market is represented by a ratio of 20% or higher
    • a buyer’s market is represented by a ratio of 11% or lower
    • a balanced market rests between 12-19

December 2023 Newsletter Introduction

OMG – who is ready for the Christmas Festivities? I can’t believe in less than 15 days it will be Christmas Day and we’ll be ringing the new year soon! To get into the holiday mood, I got a chance to take a weekend getaway to visit Leavenworth WA. The iconic German Village that has adorned itself over hundred of thousands of Christmas lights along with the white snowy background makes it the ideal Winter Wonderland! It was a great opportunity to relive a bit of my childhood, and to share it along with my little one as well! I’ve also been scrambling in chicken scratching up Christmas cards which has left my hand cramped out. I’m clearly out of practice in actually writing!

In the last rate announcement of early December, the Bank of Canada has decided to end the year off by holding the rates again. As a result of this continue holding rate, many banks are using this a gauge and feeling optimistic on the long term horizon that rates will be dropping. Banks are now dropping their long term fix rates at an average of 5.49% or even as low as 4.99% depending on different conditions and which financial institution. So there may be a surge of buyers coming thru in early 2024 as banks provide a sense of confidence and encouragement for buyers to start looking again. However, the rate be steady for now, but the chance of rates to continue rising is very much possible so we’ll have to see what the next rate announcement will be on January 24, 2024. 

– Sam

IMG-20230412-WA0004

San-Sada – Tempura

San-Sada – On my food travel in Japan – stumbled on to San Sada that is located in Asakusa. A well respected tempura restaurant that has been opened since 1837 so I was very excited to out this historical gem! I will say that the portions were so huge yet it wasn’t as crispy as I had imagined it but it’s definitely more light and airy. Their style of tempura focuses on that along with the drizzle of sauce that comes with it. The rice and sauce that melds together with the tempura is so delightful! So a definite try!

 
@foodblogprec

hangry_bunny

Highlights From the Real Estate Board October 2023

With properties coming to market at a rate roughly five per cent above the ten-year seasonal average, there seems to be a continuation of the renewed interest on the part of sellers to participate in the market we’ve been watching this fall. Counterbalancing this increase in supply, however, is the fact sales remain almost 30 per cent below their ten-year seasonal average, which tells us demand is not as strong as we might expect this time of year.

“With more supply in the form of resale inventory, and weaker demand in the form of slower sales, we’ve seen market conditions overall adjust towards more balanced conditions. It’s noteworthy that the multifamily segment remains more active than the detached segment at this time,” Lis said. “While the highest borrowing costs we’ve seen in over a decade continue to constrain affordability, a silver lining for buyers is that price increases have abated with these more balanced market conditions, meaning purchasing power is holding steady for the moment.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,196,500. This represents a 4.4 per cent increase over October 2022 and a 0.6 per cent decrease compared to September 2023.

Sales of detached homes in October 2023 reached 577, a 0.7 per cent decrease from the 581 detached sales recorded in October 2022. The benchmark price for a detached home is $2,001,400. This represents a 5.8 per cent increase from October 2022 and a 0.8 per cent decrease compared to September 2023.

Sales of apartment homes reached 1,044 in October 2023, a 4.9 per cent increase compared to the 995 sales in October 2022. The benchmark price of an apartment home is $770,200. This represents a 6.4 per cent increase from October 2022 and a 0.2 per cent increase compared to September 2023.

“NOTE: this representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assume no responsibility for its accuracy.”

Download The Real Estate Board of Greater Vancouver’s October statistics Package. Click Here

Download Fraser Valley’s Real Estate Board’s October Statistics Package. Click Here

Food for Thought on Real Estate – October

  • Seller’s market – A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher
  • Buyer’s market – In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to-active listings ratio below 12%.e
  • Balanced market – A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.Summary Over a sustained period of time:
    • a seller’s market is represented by a ratio of 20% or higher
    • a buyer’s market is represented by a ratio of 11% or lower
    • a balanced market rests between 12-19

November 2023 Newsletter Introduction

The gorgeous colour palette of Reds, Oranges and Yellow still leaves me at awe. I am very grateful to be living in a city where I get to see all four seasonal changes. October was memorable for me since the fact that my little one had their first Halloween – trick – or – treat experience. Got to checkout a fun pop up pumpkin patch and pumpkin after dark experience as a way to ring in the true Fall weather. Thanksgiving was a blur as I had experience the dreaded hand-mouth and feet disease. NOT FUN! However, the weather held up well and I got to enjoy a few more walk/hikes with my hiking partner before the temperature drops even further. 

Rates have been holding pretty well so far, so as of now – we’ll probably see no changes until January 2024. There has been a lull in both rental and real estate. It was definitely noticeably quiet in September where many families have settled in and returning/adjusting to the school/work routine. Prices have dropped slightly but many Sellers are still holding strong on pricing which result in more of a balanced market. 

– Sam

20230124_142148

Kim Phung

Kim Phung – I have been a patron to this restaurant for a long time. It’s not something particularly unique or stands out compare to the some of the new Vietnamese restaurants that elevated the cuisine to be more IG and aesthetically attractive for people to eat. However, the level of comfort and simplistic cooking is what you expect if you’re at home or in Vietnam hitting a vendor stall. My personal favorite is the dry seafood noodle bowl – it’s so well coated with their deep garlic and soy sauce that makes every strand so delicious. Many may hate me for saying this – but I prefer this item over the overwhelmingly popular Phnom Penh. Also – I truly love their spring rolls. It’s one of the most crispiness spring rolls I have had. I have also ordered their spring rolls for parties and they are always a great hit!
 
@foodblogprec

hangry_bunny

20230329_134836

Joju Hotpot 九州簡餐

Joju Hotpot 九州簡餐 – Needed a quick and reasonably priced place for lunch during the work hrs. Came across this Taiwanese place and felt a craving of some soupy noodles. I ordered the house special beef noodle. I didn’t expect much with the dish since the place was very quiet and didn’t seem very popular but I was happily surprised with the tenderness of the beef and the deep flavors from the soup. It really hit the spot for me. I also noticed that the owners spoke a Southern Guang Dong dialect which is a very bias confirmation that they’re food is pretty legit as many don’t really speak that language out here so I am assuming they have worked in the kitchen before in their home country. I’ll come by to try out their other items on the menu.  
 
@foodblogprec

hangry_bunny

Load More